Now is the perfect time to step back from your business and see where you stand.
Most people are familiar with a SWOT analysis as a way of reviewing their organizational results. This type of analysis considers Strengths, Weaknesses, Opportunities and Threats as they apply to an organization. While this approach provides useful insights, we suggest adding a refreshed approach to both take stock of your business and prioritize your commitments for the coming year. KRD uses the $COPE Analysis grid to help owners and teams review their results across all areas of the business. Ideally, the owner completes the grid first, then gathers inputs from leaders and other members of the team as a way of building consensus and identifying any gaps.
Using this tool, which is part of our MentorPlus process, the KRD team will help you review both your historical results and your goals for the future.
First you take stock of where you are:
- What do we do well?
- What needs to be improved?
And then you consider your desired future
- What is your ideal outcome?
But here’s the difference — consider the questions above across all areas of your business including:
- ($)Financial
- (C)ustomer
- (O)perations
- (P)eople
- (E)nd in Mind*
*Always start with the End in Mind (see prior Article), which should be the basis of evaluating every decision you make in other areas of your business.
While we know positive financial results are a crucial component of business success, we have found that these results depend on successful processes being applied to customer and operational activities, being executed by the right people. Use the information you gain from the $COPE Analysis exercise as the starting point for a more detailed planning session with your team. The team at KRD is happy to assist you at any stage of this process.
